Snowflake (NYSE:SNOW) Trading 0.1% Higher

Snowflake Inc. (NYSE:SNOW) traded up 0.1% on Tuesday . The company traded as high as $158.58 and last traded at $157.60. 694,507 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 6,442,419 shares. The stock had previously closed at $157.44.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Evercore ISI reduced their price target on Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Macquarie upgraded shares of Snowflake from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $182.00 to $205.00 in a research report on Thursday, February 29th. Citigroup decreased their price target on Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a report on Monday, March 4th. Bank of America cut their target price on Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Finally, Redburn Atlantic reissued a “sell” rating and issued a $125.00 price target (down from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.77.

Snowflake Stock Performance

The company has a market capitalization of $52.14 billion, a PE ratio of -61.18 and a beta of 0.90. The stock’s 50 day moving average is $165.95 and its 200 day moving average is $178.97.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The company had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. On average, equities research analysts forecast that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the transaction, the executive vice president now directly owns 774,097 shares in the company, valued at approximately $121,053,288.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $156.38, for a total transaction of $234,570.00. Following the transaction, the executive vice president now owns 774,097 shares in the company, valued at approximately $121,053,288.86. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frank Slootman sold 86,078 shares of Snowflake stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $225.13, for a total value of $19,378,740.14. Following the completion of the sale, the chief executive officer now owns 180,143 shares in the company, valued at $40,555,593.59. The disclosure for this sale can be found here. Insiders have sold 155,676 shares of company stock worth $31,784,491 in the last three months. 8.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Snowflake by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after purchasing an additional 1,559,830 shares in the last quarter. FMR LLC increased its stake in shares of Snowflake by 32.1% in the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after acquiring an additional 1,496,235 shares in the last quarter. Sands Capital Management LLC lifted its position in Snowflake by 12.6% during the 4th quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock valued at $1,083,238,000 after acquiring an additional 610,970 shares during the period. Norges Bank bought a new stake in Snowflake during the fourth quarter worth about $838,455,000. Finally, Northern Trust Corp grew its holdings in Snowflake by 5.4% in the third quarter. Northern Trust Corp now owns 1,882,281 shares of the company’s stock worth $287,556,000 after purchasing an additional 95,814 shares during the period. Institutional investors own 65.10% of the company’s stock.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.